So I’ve ordered my ’05, and in few weeks I’ll put my ’03 GT up for sale. Here’s my question, what’s it worth? I looked at the online Auto Trader and the prices seem all over the place up to about $26000+??? Mine’s a true blue 5speed hardtop with Bulletts, grey leather, and the interior upgrade package (pivoting head rests, Bullett pedals and shifter bezel etc…). It has 32000kms on it, with no accidents.
I was thinking around $19500ish, does this sound about right? Also, if you've ever sold a used Mustang before, what works best?

Thanks for any help.
Paul.

 

that sounds about right, u might ask a bit more but accept 19500, i was going to suggest looking for average pricing on trader.ca, but uhave done that, last summer i was in the same situation, selling my 02 GT same condition and km as yours, i had some mods done ans was asking 24,000, but would have accepted as low as 21,000, i think you are on the right track

 

Thanks for the feedback Kevin. Did you sell your car through the Auto Trader? How long did it take?
Thanks
Paul

 

hey paul - the car was a 2 year lease that was due in aug of 04, tried sellin g b4 the lease was due - to make a few bucks, didnt seel so i just walked away from it at the end of the lease

 

You never know what a car is worth until you sell it. But if it sells quickly, then you wonder if you were asking enough!

I think $19,500 would be a good expectation. To get the best response, you should keep the asking price less than $20,000.
In the Toronto market, '04 convertibles can be had in the $25,000 to $26,000 range. Because of less supply, I would expect the Montreal market would be a little higher.

Another factor is sales tax. I presume it is the same in Quebec where you pay taxes on the difference. So selling your trade for $19500 ends up being the same as trading for $16956.

If you find a buyer, ask your dealer about doing an "in and out" transaction where you trade in for $19500 plus tax credit, and the buyer payes $19500 plus taxes. They may charge a nominal transaction fee, but you will still be further ahead.
PM if you have questions on that process.

 

Thanks for the feedback Steve, I’m glad you think I’m in the ballpark, I fear a glut of them on the market in the spring, it will be intersting to see...
The dealer will allow me to do an accommodation sale, but here in Quebec if you buy a used car from a private party you don’t pay the GST, if you buy from a dealer you do. I may have to pay some, or all of the GST the to sell the ’03. At least I’ll still save on the PST on the new one.
Paul.

 

Just take the sale price plus 8% PST then divide by 1.15 to get your trade in value.

e.g. $19500 + $1560 =$21060 / 1.15 = $18313.04

Buyer would have to pay $21060 between you and the license bureau anyway.
You get $21060 trade and tax credit instead of just $19500 cash.
Buyer pays the same, so it shouldn't matter to them. But it does make a difference to you.

Now you just have to find a buyer.

Did your dealership appraise your Mustang and give a trade-in value?

 

Thanks Steve,
For sure I will put the '03 through the dealer to save on my taxes, what I meant was I may have to pay the buyer back some or all of his GST amount to close the deal.
I didn’t bother to have the dealer evaluate it, in Montreal they typically pay between Black Book rough and average (excluding new car pad) on a trade. I'll have to sell it myself to make the deal work..
Thanks
Paul.

PS. You get my PM?

 

Paul, why don't you just put up an ad in the "cars for sale" section of the Montreal Mustang clud ads...it's free and quite a few people check it out as well.... good luck, besides you probably know more about the club than i...... B)